Remove steaks from refrigerator and any packaging and let sit at room temperature for at least 30 minutes.

Rub each side with the olive oil to coat. Combine the salt, pepper, and onion powder in a small bowl. Rub both sides of each steak with the rub mixture.

Preheat oven to 375 degrees. Preheat a heavy, oven-safe skillet over high heat until it is smoking hot. Sear steaks in the hot pan for 2-3 minutes per side. If the steak has a side of fat, turn the steak onto its side and render the fat by searing it for 2-3 minutes as well.

Slide the skillet with the seared steaks in it into the oven to finish cooking. Remove the steaks from the oven 5 degrees before the desired level of doneness is achieved, or 130 degrees F for medium rare.

While the steaks are cooking, use a fork to combine the butter with garlic in a small bowl.

When the steaks are removed from the grill, immediately top with 1 tablespoon of the butter mixture and allow the steaks to rest 10 minutes before cutting into them. The temperature of the steak will continue to rise as it rests by about 5 degrees.